Global Metal Recycling Market to Surpass $88.5B by 2027

SEATTLE (Scrap Monster): The latest report published by Market Research Future predicts that metal recycling market will touch $88.5 billion by 2027, compared with $54.1 billion in 2019.

According to the report, the Covid-19 pandemic has impacted the metal recycling market revenues positively. It helped the industry survive in supply and demand changes. The increased focus on hygiene and sanitization has led to acceleration of metal scrap recycling initiatives.

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The increased awareness about the advantages of metal scraps offer extremely positive outlook for metal recycling market. However, the market seems to be restrained by ineffective recycling processes. For instance, recycling of ferrous metals accounts only for 40% of the total production.

The Asia Pacific metal recycling market is expected to maintain its leadership position in the coming years, mainly driven by increasing environmental regulations in countries of the region. In terms of market value, North America will emerge as the second in global market. The report predicts rapid growth in metal recycling market revenues by European region, with Germany likely to be the key market.

Metal recycling industry plays a key role in helping countries meet greenhouse gas emission reduction targets.